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Randy Anderson, CEO of Griffin Capital Asset Management, supports his market choices in housing and biotechnology.
US equity markets rose on Friday morning as investors digested stronger-than-expected retail data.
| Teleprinter | security | Last | Switch | Switch % |
|---|---|---|---|---|
| Me: DJI | MEDIUM DOW JONES | 34868.13 | -118.89 | -0.34% |
| SP500 | S&P 500 | 4349.78 | -10.25 | -0.24% |
| I: COMP | NASDAQ COMPOSITE INDEX | 14519.547207 | -23.59 | -0.16% |
The Dow Jones Industrial Average rose 75 points, or 0.2%, while the S&P 500 Index and the Nasdaq Composite Index rose 0.34% and 0.44% respectively.
The first stock gains come as retail sales rose 0.6% in June, beating the 0.4% decline expected by analysts polled by Refinitiv.
As silver turns into stocks, it exits the US Treasury market with the 10-year note yield rising 3 basis points to 1.33%.
| Teleprinter | security | Last | Switch | Switch % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 153.73 | -1.73 | -1.11% |
| BAC | BANK OF AMERICA CORP. | 38.38 | -0.44 | -1.13% |
| SG | THE GOLDMAN SACHS GROUP, INC. | 368.60 | -4.54 | -1.22% |
In equities, interest rate sensitive sectors outperformed.
Banks, including JPMorgan Chase & Co., Bank of America Corp. and Goldman Sachs Group Holdings, rose as the yield curve steepened.
MODERNA JOINS THE S&P 500
| Teleprinter | security | Last | Switch | Switch % |
|---|---|---|---|---|
| MRNA | MODERN, INC. | 286.46 | +26.79 | + 10.32% |
| ALZN | ALZAMEND NEURO INC | 6.49 | -0.49 | -7.09% |
| AZN | ASTRAZENECA SA | 56.77 | -0.19 | -0.33% |
Elsewhere, drugmaker Moderna Inc. will be added to the S&P 500, replacing Alexion Pharmaceuticals Inc., which is being acquired by Britain’s AstraZeneca Plc. The change will take place before the market opens on July 21.
| Teleprinter | security | Last | Switch | Switch % |
|---|---|---|---|---|
| HAVE I GOT | DIDI GLOBAL INC | 12h00 | -0.37 | -2.99% |
Shares of Didi Global Inc. fell sharply after officials from seven Chinese ministries showed up at its Hangzhou headquarters for a cybersecurity review. The shares had fallen 26% through Thursday from their debut at $ 16.65 apiece on June 30.
| Teleprinter | security | Last | Switch | Switch % |
|---|---|---|---|---|
| SCHW | THE CORP. CHARLES SCHWAB. | 68.70 | -1.80 | -2.55% |
In terms of earnings, Charles Schwab reported mixed results, with daily trading volume slowing 28% from the previous quarter. Volume was still up 4% year over year.
| Teleprinter | security | Last | Switch | Switch % |
|---|---|---|---|---|
| STT | STREET STATE CORP. | 85.20 | +3.24 | + 3.95% |
State Street Corp. beat both earnings and earnings and increased its quarterly dividend by 10% to 57 cents per share. The financial services company also announced a new $ 3 billion share buyback program.
In commodities, West Texas Intermediate crude oil edged up 24 cents to $ 71.89 per barrel and gold slipped $ 4.50 to $ 1,824.50 per ounce.
The overseas markets were mixed.
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European trade was choppy, with the French CAC down 0.52%, the German DAX 30 down 0.11% and the UK FTSE 100 up 0.1%.
In Asia, Hong Kong’s Hang Seng index rose 0.03% while China’s Shanghai Composite and Japan’s Nikkei 225 fell 0.71% and 0.98% respectively.
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